Q:

According to the law of diminishing marginal utility, as the amount of a good consumed increases, the marginal utility of that good tends to

A) improve	B) diminish
C) remain constant	D) first diminish and then improve

Answer & Explanation Answer: B) diminish

Explanation:

Economists use the concept of marginal utility to measure happiness and pleasure and how that affects consumer decision making. They have also identified the law of diminishing marginal utility, which means that the first unit of consumption of a good or service has more utility than the next units of consumption.Hence, the marginal utility of the good diminishes as the amount of good consumed increases.

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Filed Under: Indian Economy
Exam Prep: Bank Exams

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Q:

The economic way of thinking stresses that

A) incentives matter--individuals respond in predictable ways to changes in personal costs and benefits.	B) changes in personal costs and benefits generally fail to exert much impact on behavior.
C) if a good is provided by the government, its production will not consume valuable scarce resources.	D) if one individual gains from an economic activity, then someone else must lose and in the same proportion.

Answer & Explanation Answer: A) incentives matter--individuals respond in predictable ways to changes in personal costs and benefits.

Explanation:

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Filed Under: Indian Economy
Exam Prep: Bank Exams

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Q:

Algae belongs to which of the following levels of the ecosystem?

A) Decomposers	B) Destructors
C) Producers	D) Consumers

Answer & Explanation Answer: C) Producers

Explanation:

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Filed Under: Biology
Exam Prep: Bank Exams

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Q:

Which is NOT an example of organism that breaks down the food material outside the body and then absorb it?

A) Bread moulds	B) Yeast
C) Mushrooms	D) Snake

Answer & Explanation Answer: D) Snake

Explanation:

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Filed Under: Biology
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Q:

Which country was designated as the major defence partner of USA in December, 2016?

A) Canada	B) Israel
C) India	D) United Kingdom

Answer & Explanation Answer: C) India

Explanation:

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Filed Under: General Awareness
Exam Prep: Bank Exams

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Q:

There is a protocol signed to reduce production of CFC, known as

A) CFC Protocol	B) IR Protocol
C) Montreal Protocol	D) UV Protocol

Answer & Explanation Answer: C) Montreal Protocol

Explanation:

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Filed Under: General Science
Exam Prep: Bank Exams

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Q:

Whose ear Mike Tyson bite in professional boxing match in 1997 for the WBA Heavyweight Championship?

A) James Douglas	B) Evander Holyfield
C) Riddick Bowe	D) Michael Moorer

Answer & Explanation Answer: B) Evander Holyfield

Explanation:

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Filed Under: Sports
Exam Prep: Bank Exams

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Q:

Which country won the first cricket world cup?

A) New Zealand	B) West Indies
C) England	D) Australia

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